CMTA delegation meets Indian State officials
The Ceylon Motor Traders Association (CMTA) on the invitation of the Society of Indian Automobile Manufacturers (SIAM) met Indian government officials recently to discuss ways to revive Sri Lanka’s automotive sector.
Charaka Perera, Chairman of CMTA and Virann de Zoysa, Senior Vice Chairman of CMTA, met with key SIAM representatives, including Atanu Ganguli, Excutive Director and Pooja Nagpal, Executive Officer, Policy Advocacy at SIAM.
A highlight of the visit was the discussions with senior officials of the Indian government, underscoring the commitment to fostering bilateral relations in the automotive sector. Notable among these meetings were discussions with Anant Swarup, Additional Secretary, and Jyoti Yadav, Deputy Secretary, Ministry of Commerce & Industry, along with Ramkumar C, Director of the Indian Ocean Region Division, Ministry of External Affairs, Government of India. Swarup has expressed a keen interest in supporting the development of Sri Lanka’s component manufacturing industry.
Central to the discussions held with the CMTA were strategies to enhance automobile and spare parts trade, including the exploration of trading in Indian Rupees (INR) and the establishment of a robust component manufacturing ecosystem with India’s support. Deliberations also encompassed the Indo-sri Lanka Free Trade Agreement (ISFTA), highlighting its potential to significantly benefit Sri Lanka’s automotive industry.
The CMTA also engaged in discussions about the component manufacturing industry. Given India’s prowess in this domain, discussions revolved around leveraging India’s expertise to bolster Sri Lanka’s component manufacturing infrastructure. Talks centred around India’s commitment to providing support in terms of procurement, training, and technology transfer to kickstart this vital industry.